Jefferies analysts lowered their price target on Trina Solar Ltd. (NYSE: TSL) from $8 to $6 but they maintained their HOLD rating on the China based solar company.

Until the company is able to rein in costs, show pricing discipline and generate cash, analysts at Jefferies don’t expect investors will become more positive on the name. The company will have burned $35-40M of cash by the end of the second quarter and analysts think the company is more concerned with market share than financial returns, at least for now.

Given volatility in earnings and the difficulty in determining near and mid-term margins, Jefferies analysts lowered their price target to $8, giving it an EPS multiple in line with its Chinese peers.

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